Wyoming
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A Wyoming surety bond can be thought of as a mix between an insurance instrument and a credit instrument.
Some surety bonds are unique to the state of Wyoming, but many Wyoming sureties are of the same type that can be found in most other states.
A Wyoming surety bond is like a surety bond in every other state in that it is a legal agreement between three parties — the guarantor, the obligor, and the obligee — that provides a form of assurance that contract requirements will be met, and that rules and regulations will be followed.
When you obtain a Wyoming surety bond, the surety takes on the risk of having to pay an obligee if the obligee incurs a loss due to you, the principal, not upholding legal obligations under a separate contract. By paying a non-refundable portion of the bond amount to a surety (the principal payment), rather than the entire bond amount needed, the principal is essentially being offered credit for which they will ultimately be responsible.
Common Wyoming Surety Bonds
A Wyoming surety bond can be thought of as a mix between an insurance instrument and a credit instrument.
Some surety bonds are unique to the state of Wyoming, but many Wyoming sureties are of the same type that can be found in most other states.
A Wyoming surety bond is like a surety bond in every other state in that it is a legal agreement between three parties — the guarantor, the obligor, and the obligee — that provides a form of assurance that contract requirements will be met, and that rules and regulations will be followed.
When you obtain a Wyoming surety bond, the surety takes on the risk of having to pay an obligee if the obligee incurs a loss due to you, the principal, not upholding legal obligations under a separate contract. By paying a non-refundable portion of the bond amount to a surety (the principal payment), rather than the entire bond amount needed, the principal is essentially being offered credit for which they will ultimately be responsible.
Common Wyoming Surety Bonds
Auto Dealer Bond
Contractors Bond
Mortgage Bond
Collection Agency Bond
Money Transmitter Bond
License and Permit Bond
How do I purchase a Wyoming surety bond?
NFP, the nation's largest and most reliable surety company, is authorized to issue many different types of surety bonds in Wyoming. We can provide the best rates for your bond, as well as the fastest issuance, to get your business off and running.
Our short online application makes it easy. Click below to start the application process today.
Wyoming Surety Bond FAQs
In Wyoming, common bonding requirements apply to contractors, auto dealers, notaries, public officials, and those involved in oil and gas, mining, or reclamation activities.
Wyoming auto dealers must post a $25,000 auto dealer bond. This helps ensure that the dealer complies with state laws and treats customers fairly.
No, Wyoming does not require notaries to obtain a surety bond, although some choose to purchase a notary bond for additional public protection.
Most surety bonds in Wyoming are issued for a one-year or two-year term, though some may match the license or contract length. Renewal is required to maintain compliance.
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